Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeFinanceNewsJane Street-backed exchange sells control to TMX GroupThe MEMX transaction is expected to close in the second half of 2027Author of the article:Last updated 46 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.The deal represents the third acquisition for TMX in 2026. It agreed to buy Cboe Global Markets Inc.’s Australian and Canadian units in April, and RAFI Indices LLC in June. Photo by Pawel Dwulit/BloombergMEMX LLC, an exchange operator backed by Jane Street and Morgan Stanley, will combine with equity options market BOX in a deal that gives control of the merged entity to Canada’s leading stock exchange group.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe new MEMX Group is valued at US$2.3 billion, TMX Group Ltd. announced Thursday. The Toronto-based company is investing US$800 million in cash, plus its existing BOX stake, into the combination, and will hold a 59 per cent interest.“It’s been a long road in terms of making this transaction to come together because there are a lot of stakeholders in it,” chief executive John McKenzie said in an interview on Friday. “All of our biggest clients are active and massive in the United States. So this was a way for us to make sure we’re serving clients on a North American basis.”Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againTMX Group shares advanced 1.8 per cent to $52.66 in Toronto as of 1:17 p.m. on Friday.The deal represents the third acquisition for TMX in 2026. It agreed to buy Cboe Global Markets Inc.’s Australian and Canadian units in April, and RAFI Indices LLC in June.In a note to clients, TD Cowen analyst Graham Ryding said the MEMX transaction adds to execution risk and pushes TMX’s leverage 3.4 times debt to earnings before interest, taxes, depreciation and amortization.McKenzie said the firm has the balance sheet capacity to complete the deal and that leverage is within the same range as it was with prior transactions. They’ve also brought in a new team to help with the merger, he added.TMX expects the Cboe Australia deal to close imminently, McKenzie said. The regulatory process is still in progress for the Cboe Canada purchase.The MEMX transaction is expected to close in the second half of 2027. It’s supported by existing investors including Jane Street, Morgan Stanley, Citadel Securities and Schwab, among others. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.